The Multi Commodity Exchange Ltd (MCX), India's premier commodity exchange, has set a price band of Rs.860-1,032 a share for its initial public offering (IPO) to raise around Rs.660 crore.

MCX is offering about 6.4 million shares, which will open on February 22 and close on February 24.

With this IPO, MCX will become the first Indian bourse to list its shares on an exchange.

MCX's majority shareholder, Financial Technologies India Ltd, and other stakeholders, including state-owned State Bank of India and Bank of Baroda, will sell part of their holdings through the IPO. Morgan Stanley, Citigroup and Edelweiss Capital are the book-runners for the share sale.

More In: Markets | Business